Below are excerpts from a court case proving the Federal Reserve
system's status. As you will see, the court ruled that the
Federal Reserve Banks are "independent, privately owned and
locally controlled cor****ations", and there is not sufficient
"federal government control over 'detailed physical performance'
and 'day to day operation'" of the Federal Reserve Bank for
it to be considered a federal agency:
Lewis v. United States, 680 F.2d 1239 (1982)
http://www.save-a-patriot.org/files/view/frcourt.html